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Article: News Corp, Liberty Media swap of DirecTV nears.(Brief article)
- Article from:
- The Online Reporter
- Article date:
- December 9, 2006
CopyrightCOPYRIGHT 2006 Rider Research, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Who needs a satellite TV service when you can use the Net to deliver your entertainment videos?
That seems to be the thinking at News Corp these days, according to Peter Chernin, the company's president and COO. Chernin was explaining that negotiations are nearly complete between News Corp and Liberty Media about swapping News Corp's 39% share in DirecTV for Liberty Media's 19% voting stake in News Corp.
Peter Chernin this week that he's "optimistic" about completing the transaction. He said that News Corp would not let the negotiations drag on so long that it would hurt the companies' operations.
Chernin explained that News Corp acquired ...